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Now’s the time for Democrats to hammer Trump on the economy | Lloyd Green

“Economic Growth Shatters Expectations as President Trump Fuels America’s Golden Age,” the White House announced on Wednesday. But within 48 hours, the data told a very different story, giving the Democrats a badly needed opening if they can muster the competence and focus to seize upon it.

On Thursday, the US commerce department announced that inflation had ticked up to 2.6%. A day later, the labor department reported that unemployment had risen to 4.2% in July, and that the US had actually gained 258,000 fewer jobs than previously reported.

From the looks of things, Donald Trump and his tariffs are damaging the economy. Suddenly, things aren’t looking so hot.

Rather than copping to a screw-up, however, the president immediately laid blame elsewhere. In a barrage of posts on social media, he lambasted Jerome Powell, the chair of the Federal Reserve, attacked his intelligence and again threatened his tenure at the Fed.

The president trashed Powell, who he appointed, as “a stubborn MORON”. Adding insult to injury, Trump brayed: “IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!”

But things didn’t end there. The tantrum continued unabated.

Hours later, Trump grabbed another page from the strongman playbook and fired Erika McEntarfer, the head of the Bureau of Labor Statistics. He suggested that she had cooked the books and was essentially giving aid and comfort to Joe Biden, the man who first appointed her.

As we know, there is reality and then there is Trump’s version of reality.

At Friday’s final bell, the Dow had dropped more than 540 points and the Nasdaq was down 2.24%. The ghost of Trump’s so-called “liberation day” had returned to haunt the markets, giving the Democrats ample material to work with.

Already, the One Big Beautiful Bill Act places Trump and the Republicans at odds with their base and with swing voters. According to a Wall Street Journal poll, 70% of the US believes the act benefits the rich. Beyond that, the tax plan is underwater with the public, 42-52, and is disfavored by a majority of independents.

Practically speaking, the Congressional Budget Office projected in June that nearly 8 million people would lose their insurance under the Trump-backed bill. For the current iteration of the GOP, that’s a problem. These days, Republican voters tilt working class. Many of them break economically liberal and socially conservative.

This why House Republicans danced around the issue of coming Medicaid cuts. They stand to harm their own voters. And they know it.

Take Mike Lawler, a representative from New York’s Hudson Valley. More than 200,000 of his constituents receive Medicaid benefits. Town halls in his district have become rowdy events, with the police hauling out a constituent.

Lawler claims to have “fought extensively to make sure that there were not draconian changes to Medicaid”.

“At the end of the day, this is about strengthening the program,” Lawler added. Uh, that’s why he needed the cops.

More than 64 Republican House members represent districts where Medicaid rates exceed the national average, according to CNN. In those seats, five incumbents won last November by five points or fewer.

But the GOP’s problems don’t end with Medicaid. These days, social security, the most sacrosanct legacy of the New Deal, may be in the crosshairs of Team Trump.

On Wednesday, Scott Bessent, the treasury secretary, acknowledged the so-called “Trump accounts” created for kids by the One Big Beautiful Bill Act were actually a “back door for privatizing social security”.

The accounts are designed as a vehicle for Americans to build and accumulate wealth as soon as they are born. Under the new law, newborns will be eligible to receive $1,000 from Uncle Sam.

“Social security is a defined benefit plan paid out,” Bessent explained. “To the extent that if all of a sudden these accounts grow, and you have in the hundreds of thousands of dollars for your retirement, then that’s a gamechanger.”

As a candidate and then again in office, Trump had pledged to leave social security untouched. Now that pledge is in doubt.

In 2024, the Republicans made the economic failures of the Biden-Harris administration central to their campaigns. The Trump-Vance campaign raked the Democrats over the coals over inflation. In politics, turnabout is fair play. It is time for the Democrats to show that they actually care about the average voter.